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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
LTC Properties
LTC Properties (LTC) investor relations material
LTC Properties Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary4 Nov, 2026
Executive summary
SHOP transformation continued; acquisitions since the May 2025 launch reached $1.3B, with ~$950M closed through October and 2026 acquisitions expected to reach $1.0B.
SHOP represented 45% of annualized NOI as of Nov. 3; management expects 50% of pro forma annualized NOI by year-end 2026 and sees a path to 75% by end-2028.
SHOP grew from zero communities to 50 communities managed by 14 operators; management expects the shift to strengthen long-term earnings growth and portfolio resilience.
Pro forma portfolio comprised 168 properties, $3.008B gross investment and $205.4M trailing-12-month NOI; SHOP represented 52.6% of gross investment and 34.3% of NOI.
Financial highlights
Q3 revenue was $115.2M vs. $69.3M YoY; net income was $349.3M, primarily reflecting a $323.9M net gain on real estate sales.
Net income available to common stockholders was $346.4M vs. a $20.1M loss; diluted EPS was $6.39 vs. a $0.44 loss.
Diluted Core FFO was $0.71/share vs. $0.69 YoY; diluted Core FAD was $0.73/share vs. $0.72.
Q3 cash dividends were $0.57/share, unchanged YoY.
Outlook and guidance
FY2026 diluted Core FFO guidance remains $2.76–$2.78/share and Core FAD guidance $2.83–$2.85/share.
2026 gross investment guidance midpoint rose to $1.0B from $900M; expected asset-sale and loan-payoff proceeds are $730M, including $179.8M expected in Q4.
Core SHOP NOI guidance narrowed to $53.5M–$55.5M; total SHOP NOI guidance, including expected net investments, is $73.5M–$76.4M.
Core SHOP guidance implies ~13% pro forma NOI growth and ~70 bps occupancy growth vs. 2025 pro forma averages; assumptions include ~5.1% RevPOR and ~2.8% ExPOR growth.
~$200M of SHOP acquisitions are expected to close in Q1 2027; management sees potential to transact at a similar volume to 2026.
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Latest events from LTC Properties
- SHOP drives portfolio growth and NOI, with strong 2026 guidance and disciplined capital management.LTC
Investor presentation - SHOP investments drive portfolio transformation, fueling NOI growth and strong 2026 guidance.LTCInvestor presentation
- SHOP-driven growth accelerates, with $900M investment guidance and strong liquidity.LTCQ2 2026
- All proposals passed, with audit fee increases linked to SHOP asset growth.LTCAGM 2026
- SHOP segment drives growth, targeting 45% of assets and 40% of NOI by end of 2026.LTCInvestor presentation
- SHOP investments drive portfolio transformation, targeting 45% of assets and 40% of NOI by 2026.LTCInvestor presentation
- SHOP expansion and portfolio shift fueled record growth and reaffirmed 2026 outlook.LTCQ1 2026
- Q2 2024 net income rose to $19.7M, with strong liquidity and active portfolio realignment.LTCQ2 2024
- RIDEA rollout, strong FFO, and portfolio diversification drive growth and stability.LTCQ4 2024
Next LTC Properties earnings date
Q4 202622 Feb, 2027
LTC Properties
Next LTC Properties earnings date
Q4 202622 Feb, 2027
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Frequently asked questions
LTC Properties Inc., a health care REIT investing in seniors housing and health care properties, has sold five hospitals for a combined $52.9 million to companies affiliated with MedEquities Realty Trust, one of the nation’s leading dedicated healthcare real estate investment trusts. The portfolio consists of eight steady cash-flowing hospitals located in three states (AL, GA and MS).